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One month data analysis of the Sui ecosystem: TVL, activity and future development priorities
Observe the current situation of the Sui ecosystem from multiple perspectives
Nearly a month after the launch of the Sui mainnet, as a representative of the public chain based on the Move language and the high-profile Non-EVM Layer1 public chain, the current ecological status of Sui has sparked a lot of discussions. This paper will objectively analyze the current situation of the Sui ecosystem from the aspects of data, applications, and events.
First, the fundamentals of the Sui chain
1. Total liquidity of assets
The current Sui-on-chain TVL is $19.02m, with a peak of $36m over the past month. The largest application of TVL is the decentralized exchange Cetus, accounting for more than 65%, followed by Turbos. More than 60% of the TVL component is stablecoins.
The 7-day trading volume is at least $32.37M, ranking 20th among all public chains. The main transaction volume took place in Cetus.
! Observe the current situation of Sui ecology from multiple perspectives
2. Sui on-chain activity
7-day data:
Recently, on-chain activity has been on a downward trend. The main activity fluctuations are related to ecological projects, IDOs, and DeFi activities.
! Observe the current situation of Sui ecology from multiple perspectives
3. $Sui liquidity situation
The current circulation of $Sui is approximately 528 million, with a staking volume of 7.29 billion. Although the circulation is valued at over $500 million in USD, it is not reflected in the TVL.
Most of the circulating supply is unstaked, with an estimated 4% or more in centralized exchanges. Only a small amount of $Sui is used for on-chain activities.
At present, the yield of node staking is less than 6%, which is not attractive to investors. At the same time, due to the lack of LST solutions, $Sui cannot be used as collateral to increase leverage on the chain to obtain higher returns.
! Observe the current situation of Sui ecology from multiple perspectives
4. cross-chain bridges
At present, only the Wormhole cross-chain bridge is available, which supports more than 10 types of assets across 7 chains. Due to technical reasons, stablecoin trading volume and minting volume data have not yet been released.
! Observe the current status of the Sui ecosystem from multiple perspectives
Second, the ecological situation of Sui
1. Main Ecological Projects
Machine Gun Pools: Mole supports single and dual coin machine gun pools, has leverage mining capabilities, and currently has a TVL of $180,000.
NFT marketplaces: Souffl3 and Clutchy are the two main NFT marketplaces. Clutchy has a strong IP reserve.
NFT Project: Fuddies is the most well-known NFT in the Sui community, with a total trading volume of 1.44M $Sui.
GameFi: Abyss World is a much-talked-about souls-like ARPG game, but chose to do IDO on Polygon.
! Observe the current situation of Sui ecology from multiple perspectives
2. Traffic Entrance
The main wallets include:
Browser wallets: Sui Wallet, Suiet, Martian, Ethos, OKX Wallet, Surf Wallet, etc
Mobile wallets: Glass, Bitkeep, OKX, etc.
Event Platforms: Port3 and Suia are the two main event and social platforms.
! Observing the current state of Sui ecology from multiple perspectives
3. Suggestions for the Sui ecosystem
Lower the threshold for validators, open up liquid staking schemes, and improve the liquidity of on-chain assets
Increase cross-chain infrastructure and introduce more cross-chain bridges
Support the development of native stablecoins
Accelerate mobile wallet support
Improve data visualization capabilities and improve on-chain data display
Give developers more room to innovate and avoid excessive centralization
The Sui ecosystem is still in its early stages, and the above measures are expected to accelerate the development of the ecosystem and attract more users and developers to participate.
! Observe the current situation of Sui ecology from multiple perspectives